Sumitomo Mitsui Trust Group Inc. trimmed its position in 10x Genomics (NASDAQ:TXG – Free Report) by 46.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,258,734 shares of the company’s stock after selling 1,935,893 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 1.73% of 10x Genomics worth $204,099,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Quantinno Capital Management LP boosted its stake in shares of 10x Genomics by 16.0% in the 1st quarter. Quantinno Capital Management LP now owns 5,411,761 shares of the company’s stock valued at $114,892,000 after purchasing an additional 744,558 shares in the last quarter. Dimensional Fund Advisors LP increased its position in 10x Genomics by 34.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,042,950 shares of the company’s stock worth $43,357,000 after purchasing an additional 525,369 shares in the last quarter. Hsbc Holdings PLC acquired a new position in 10x Genomics during the 1st quarter worth approximately $5,945,000. Quantedge Capital Pte Ltd lifted its stake in 10x Genomics by 104.2% in the 1st quarter. Quantedge Capital Pte Ltd now owns 416,553 shares of the company’s stock valued at $8,843,000 after purchasing an additional 212,600 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC bought a new position in 10x Genomics in the 3rd quarter valued at approximately $11,364,000. 84.68% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several research firms have recently weighed in on TXG. Citigroup boosted their price target on 10x Genomics from $45.00 to $50.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Stephens lowered shares of 10x Genomics from an “overweight” rating to an “equal weight” rating in a report on Friday, October 23rd. UBS Group initiated coverage on shares of 10x Genomics in a report on Wednesday, September 9th. They set a “neutral” rating and a $68.00 target price on the stock. Argus initiated coverage on shares of 10x Genomics in a research report on Monday, September 28th. They issued a “buy” rating and a $110.00 price target for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 10x Genomics in a research note on Monday, September 21st. Five equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $68.00.
Get Our Latest Stock Report on 10x Genomics
10x Genomics Stock Performance
TXG stock opened at $70.11 on Monday. The stock’s 50 day simple moving average is $74.17 and its 200 day simple moving average is $40.56. 10x Genomics has a fifty-two week low of $12.44 and a fifty-two week high of $102.81. The company has a market cap of $9.13 billion, a P/E ratio of -118.83 and a beta of 2.03.
10x Genomics (NASDAQ:TXG – Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.10. The company had revenue of $151.04 million for the quarter, compared to analyst estimates of $146.67 million. 10x Genomics had a negative net margin of 12.18% and a negative return on equity of 9.33%. The firm’s revenue was down 12.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.28 EPS. Equities analysts predict that 10x Genomics will post -0.77 earnings per share for the current year.
Insider Transactions at 10x Genomics
In related news, Director Shehnaaz Suliman sold 5,723 shares of the stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $81.19, for a total transaction of $464,650.37. Following the sale, the director owned 23,792 shares of the company’s stock, valued at approximately $1,931,672.48. This represents a 19.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Serge Saxonov sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $81.22, for a total transaction of $2,030,500.00. Following the transaction, the chief executive officer directly owned 1,050,249 shares of the company’s stock, valued at approximately $85,301,223.78. This represents a 2.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 179,333 shares of company stock valued at $11,810,070. Corporate insiders own 8.84% of the company’s stock.
10x Genomics Company Profile
10x Genomics, Inc is a life sciences technology company that develops tools for analyzing biological systems at the single-cell and spatial levels. Its technologies are designed to help researchers study gene expression, cellular interactions, tissue organization and other biological processes in greater detail than conventional laboratory methods.
The company’s product portfolio includes the Chromium platform for single-cell analysis, the Visium platform for spatial transcriptomics, and the Xenium platform for high-resolution in situ analysis of tissue samples.
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